SECOND AMENDMENT TO LOAN AGREEMENT
EXHIBIT 10.25
SECOND AMENDMENT TO
LOAN AGREEMENT
LOAN AGREEMENT
THIS SECOND AMENDMENT TO LOAN AGREEMENT (this “Amendment”), dated as of September
23, 2004, is entered into between XXXXXX XXXX (the “Lender”), and NATURADE, INC., a
Delaware corporation (the “Borrower”).
RECITALS
A. The Borrower and the Lender have entered into a LOAN AGREEMENT dated as of August 31, 2000,
(the “Loan Agreement”). Capitalized terms used herein have the meanings given to them in
the Loan Agreement unless otherwise specified.
B. The Borrower has requested that the Lender amend the payment provisions of the Loan
Agreement.
AMENDMENT
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:
1. | Amendments to Loan Agreement. |
a. | Effective September 23, 2004 payments on the Loan Agreement will be amended as follows: |
On or before December 31, 2004 Borrower will pay principal of $112,345.22 plus accrued interest from March 1, 2004. |
IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.
Naturade, Inc.
/s/Xxxx X. Xxxxxxx
Xxxx X. Xxxxxxx
President & CEO
Xxxx X. Xxxxxxx
President & CEO
/s/Xxxxxx Xxxx
Xxxxxx Xxxx
Xxxxxx Xxxx